How much does Trust in Soda Ltd make?

Trust in Soda Ltd reported revenue of £12.9m and a loss of £1.6m in the year to 31 Dec 2023, according to its accounts filed at Companies House.

How many employees does Trust in Soda Ltd have?

Trust in Soda Ltd reported an average of 37 employees in the year to 31 Dec 2023.

Is Trust in Soda Ltd profitable?

No — Trust in Soda Ltd reported a loss of £1.6m in the year to 31 Dec 2023.

Company No. 08611116 · Incorporated 16 Jul 2013

Trust in Soda Ltd

Registered name: TRUST IN SODA LTD

Part of Trinnovo Group Holdings Ltd group

Trust in Soda Ltd made £12.9m revenue and a £1.6m loss in the year to 31 Dec 2023. read from filing text

Trust in Soda Ltd’s revenue fell 40% to £12.9m in the year to 31 Dec 2023, with a loss of £1.6m and 37 employees. The company is classified under “human resources provision and management of human resources functions” and is based in London; we hold 3 years of its filed accounts.

Full P&L filedSection N · Administrative and support servicesSIC 78300Human resources provision and management of human resources functions

Status: Active
Location: London, London
Age: 13 yrs · since 2013
Type: Private Limited Company

Pass-through vehicle. This looks like a holding, staffing or umbrella company. Its revenue and profit may largely pass through to or from other entities, so the figures may not reflect a standalone operating business. It is excluded from our opportunity lists.

Part of a group. The filing indicates this company sits within a group structure, so its results may depend on intra-group trading and it may be hard to replicate independently. From the filing: “The immediate and ultimate parent company was Trinnovo Group Limited, by virtue of its 100% ownership of the company. Copies of the consolidated financial statements can be obtained from its registere”

Latest accounts · year to 31 Dec 2023

Key figures

Capital-light

Revenue

£12.9m

Growth ▼39.8%

Profit

−£1.6m

Growth —

Profit margin

−12.4%

Gross 19.4%

Employees

Change ▼28.8%

Profit / employee

−£43.2k

Revenue/employee £348k

Profitable streak

0yrs

Consecutive profitable years in our data

Badges are automated estimates derived from the filed figures — not statements of fact about the company.

3 filed years

Financial history

Multi-year financials, oldest to newest
Year to	31 Dec 2021	31 Dec 2022	31 Dec 2023
Disclosure	Full P&L	Full P&L	Full P&Lread from filing text
Profit & loss
Revenue (turnover)	£11.6m	£21.4m	£12.9m
Cost of sales	£8.6m	£16.7m	£10.4m
Gross profit	£3m	£4.7m	£2.5m
Operating profit	£15.4k	−£731k	−£1.4m
Profit before tax	−£132k	−£952k	−£1.6m
Profit after tax	−£135k	−£968k	−£1.6m
Profit (best available)	−£135k	−£968k	−£1.6m
Staff costs	£2.8m	£3.7m	£2.3m
Employees (average)	38	52	37
Ratios
Profit margin	−1.2%	−4.5%	−12.4%
Gross margin	25.7%	22%	19.4%
Revenue per employee	£306k	£411k	£348k
Profit per employee	−£3.6k	−£18.6k	−£43.2k
Growth (year on year)
Revenue growth	—	▲84%	▼39.8%
Headcount growth	—	▲36.8%	▼28.8%
Balance sheet — indirect signals, not revenue
Cash at bank	£1.2m	£248k	£276k
Net assets	£155k	−£963k	−£2.6m
Fixed assets	£29.8k	£37.8k	£63.9k
Current assets	£3.7m	£5.1m	£3.4m
Debtors	£248k	£787k	£267k
Deferred income	£0	£596k	£5.9k
Source	Accounts · bulk data Jan 2024	Accounts · bulk data Jan 2024	FullAccounts · bulk data Mar 2025

Derived from the latest filing

How the business works

Profit margin: −12.4%; Profit ÷ revenue.
Gross margin: 19.4%; Gross profit ÷ revenue. High for software and services.
Revenue per employee: £348k; Revenue ÷ average employees.
Profit per employee: −£43.2k; Profit ÷ average employees.
Cash conversion: —; Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
Fixed assets ÷ revenue: 0.5%; Capital intensity. Low = capital-light, cheaper to start.
Deferred income ÷ revenue: 0.1%; Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
Debtors ÷ revenue: 2.1%; Money owed by customers. Low = customers pay quickly.

Indirect — not revenue

Balance-sheet signals

Year-on-year changes in filed balance-sheet items. They can hint at momentum (or investment) but are not revenue or profit and must not be read as such.

Net assets: —; Now −£2.6m
Cash at bank: ▲11%; Now £276k
Headcount: ▼29%; Now 37
Deferred income: ▼99%; Now £5.9k
Fixed assets: ▲69%; Now £63.9k

Deferred income is reported together with accruals in this filing (“accruals and deferred income”), so it is an approximate signal only.

Corporate ownership

Group structure

Ownership chain

Trinnovo Group Holdings Ltdultimate parent75–100%
Trinnovo Group Ltd75–100%
Trust in Soda Ltdthis company

Bands show the share of ownership each company holds in the one below it.

Sister companies (4)

Trinnovo Group Staffing LimitedRev. £9.8m · Profit £3m
Broadgate Search Holdings LimitedFigures not disclosed
Deeprec.ai LimitedFigures not disclosed
Exmilitarycareers LtdActive - Proposal to Strike offFigures not disclosed

From the Persons with Significant Control register (corporate controllers only).

Sources

Companies House profile Filing history & original accounts

Latest figures from FullAccounts for the year to 31 Dec 2023 (profit −£1.6m), from the Companies House accounts bulk data published Mar 2025. Spotted an error? Request a correction.

Updated from Companies House on 17 Oct 2026

Contains public sector information from Companies House licensed under the Open Government Licence v3.0. Data from Companies House, © Crown copyright. View the licence.